According to a new market research report "DDoS Protection and Mitigation Marketby Component (Hardware Solutions, Software Solutions, and Services), Application Area (Network, Application, Database, and Endpoint), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the DDoS Protection and Mitigation Market size is expected to grow from USD 1.94 Billion in 2018 to USD 4.10 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 16.1% during the forecast period.
The DDoS Protection and Mitigation Market is gaining traction, due to the rise in volumetric DDoS attacks that cause traffic congestion by flooding networks with numerous illegitimate network packets.
The high demand for cloud-based and hybrid DDoS protection and mitigation solutions among enterprises is expected to drive the DDoS Protection and Mitigation Market over the next 5 years.
The services segment is expected to play a key role in the DDoS Protection and Mitigation Market.
The services segment is expected to play a vital role in changing the DDoS Protection and Mitigation Market landscape and grow at the highest CAGR during the forecast period. Services offered by DDoS protection and mitigation vendors are classified into professional and managed services. The rise in the demand for DDoS services is due to the need to protect websites, networks, and critical infrastructure devices, as well as, to reduce the downtime and business risks. Cyberattacks on websites are increasing at an alarming rate and have compelled organizations to adopt robust security services for addressing risks in the continuously evolving threat landscape. Services offered by DDoS protection and mitigation vendors help safeguard websites, networks, and layer 3 and layer 7 threats.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at the fastest rate.
In the DDoS Protection and Mitigation Market, Small and Medium-sized Enterprises (SMEs) are expected to be the fastest-growing segment, as these enterprises have become the key targets for cyber terrorists or hacktivist. SMEs need to appraise their security systems to effectively close the gaps that slowdown the performance of their servers. Hence, it has become essential for SMEs to incorporate DDoS protection techniques, such as scrubbing services, Border Gateway Protocol(BGP) routing, sinkholing, null routing, and Domain Name Server(DNS) routing.
North America is expected to have the largest market size in the DDoS Protection and Mitigation Market.
North America is expected to have the largest market size in the DDoS Protection and Mitigation Market, due to the growing trends such as Internet of Things (IoT), Internet of Everything (IoE), Industrial Internet of Things (IIoT), and Bring Your Own Device (BYOD) have brought tremendous growth in the region. Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period, owing to the factors such as the region has a large number of established SMEs that are growing at an exponential rate and these enterprises are increasingly adopting DDoS protection and mitigation solutions and services. Furthermore, the market in regions such as Middle East and Africa (MEA) and Latin America is expected to grow, due to the increasing technological proliferation across manufacturing, and energy and utilities industry verticals.
Major vendors in the DDoS Protection and Mitigation Market include Arbor Network (US); Akamai Technologies (US); F5 Networks (US); Imperva (US); Radware (Israel); Corero Network Security (US); Neustar (US); Cloudflare (US); Nexusguard (Hong Kong); A10 Networks, (US); Fortinet (US); Huawei Technologies (China); Verisign (US); Zenedge (US), Sucuri (US); SiteLock (US); Flowmon Networks (Czech Republic); StackPath, (US); DOSarrest Internet Security (Canada); Century Link (US) ; NSFOCUS (US); Corsa Technology (Canada); Rackspace (US); Allot (Israel); and Seceon(US).
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